The small tax rates against unrealized gains are not only for the common folk, rich people own real estate too. Sometimes up to a dozen homes worth dozens of times more than a small family home each.

The unrealized gains tax on investments would also impact the vast majority of “common folk.”

Indiscriminate taxation will not fix our system. We need to tax the rich, not the rich and the poor equally. If anything we should have a negative income tax on the poor.